Go woke, go broke. It’s just not a conservative slogan anymore. It’s actual reality. You’ve seen what’s happened to Budweiser, Dick’s Sporting Goods, Nike and other “woke” companies, but what about Woke Disney? Their stock just hit a nine year low after they keep cranking out woke flop after woke flop.. Wall Street experts say this maybe not even be the bottom yet for Woke Disney.
Shares of Walt Disney Co. closed at their lowest level in nearly nine years Thursday, and even there they may not be cheap.
The media conglomerate’s stock remains under pressure amid a host of challenges, and KeyBanc Capital Markets analyst Brandon Nispel still views it as expensive relative to peers, despite a selloff that has taken the share price down 59% from Disney’s DIS, +1.08% all-time closing high established in early 2021.
“From our point of view, Disney has problems across just about every one of its businesses,” Nispel told MarketWatch. These include a declining linear-TV business, a complicated shift toward streaming, an underperforming studios unit and a comedown for the parks business as the initial period of postpandemic exuberance wanes.
See also: Disney may be near a ‘turning point’ — for better or worse
Disney’s troubles in linear television and streaming go hand in hand. Pay-TV subscribers are declining at a 6% to 7% rate, weighing on advertising and affiliate revenue. Meanwhile, media companies bled dry their linear offerings in pursuit of streaming success, but the streaming business has been unprofitable, something companies are trying to reverse.